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Fighting the financial war on terror - implications for auditors.

Author

Ho, Choon Hong.

Sam, Leonard Zhi Yong.

Toh, Angela Hui Shan.

Date of Issue

2003

School

College of Business (Nanyang Business School)

Abstract

This paper aims to explore the implications of anti-terrorist-financing, focusing on auditors and financial institutions in Singapore. The paper advocates a Verification-Identification-and-Provision (VIP) internal control system for financial institutions to deter and detect terrorist accounts. Emphasis is made on the roles and duties of the internal auditor in the system.